Segmentation is defined as a group of people that share one or more characteristics. Each market segment is unique and marketing managers decide on various criteria to create their target market(s).
They may approach each segment differently, after fully understanding the needs, lifestyles, demographics and personality of the target. Some e.g. of common characteristics are: interests, lifestyle, age, gender, etc. Common types of market segmentation include: geographic, demographic, psychographic and behavioral.
Types of Market Segmentation for Nestle
* Psychographic segmentation
The basis of such segmentation is the lifestyle of the individuals. The individual’s attitude, interest, value help the marketers to classify them into small groups. * Nestle juice provides persons to purchase the goods for many activities in which they may engage in ….such as outdoor activities to the beach, park, picnic and at other events. Due to the size of the juice box persons it is convenient and its economic for all persons.
* Nestle orchard orange juice makes for a perfect snack for kids during the school year as well as on summer vacation
* Behaviouralistic Segmentation
The loyalties of the customers towards a particular brand help the marketers to classify them into smaller groups, each group comprising of individuals loyal towards a particular brand. Nestle has a large group of persons who have interest in the product bacuase of its size price and contents which is excellent for all persons.
... D. J. and Lonsdale, R. T. (1968), “Market segmentation: Group versus individual behavior”. Journal of Marketing Research, 5(3 ... readers, Tigert also investigated television viewers. Scales representing fashion interest, fashion venturesomeness, cognitive style, information seeking, relative ... are ‘common denominator?’ of the person’s behaviour regardless of the nature of ...
* Geographic Segmentation
Geographic segmentation refers to the classification of market into various geographical areas. A marketer can’t have similar strategies for individuals living at different places. Nestle promotes its juice all through the year in the Caribbean which have well defined for the climate. The juice is available to persons everywhere in the country since it has a mass production and a larger market. Persons in winter season prefer hot drinks as compared to the Caribbean which prefer cold drinks due to its climate. Nestle Orchard juices being sold throughout the island from street side vendors to supermarkets.